Dissolution of adjudicatory body shifts staff to central service and vests staff funds in the central government, with pending cases moved to a successor tribunal. Dissolution of the Company Law Board causes cessation of its officeholders; deputation staff revert to parent cadre; regular employees transfer to Central Government service with retention of pension and related benefits; no compensation lies for premature termination. Provident, superannuation and welfare funds attributable to transferred employees vest in the Central Government to be dealt with as prescribed. All pending matters before the Board are transferred to the successor tribunal for disposal under the Act.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Dissolution of adjudicatory body shifts staff to central service and vests staff funds in the central government, with pending cases moved to a successor tribunal.
Dissolution of the Company Law Board causes cessation of its officeholders; deputation staff revert to parent cadre; regular employees transfer to Central Government service with retention of pension and related benefits; no compensation lies for premature termination. Provident, superannuation and welfare funds attributable to transferred employees vest in the Central Government to be dealt with as prescribed. All pending matters before the Board are transferred to the successor tribunal for disposal under the Act.
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